US-China Trade: Truce Extended for 90 Days, Traders Celebrate ‘Thankfully Catching up with Black Friday and Christmas’

Despite widespread predictions, everyone held their breath until the final moment. On August 11, the White House announced that President Trump signed an executive order extending the suspension of tariffs on China for 90 days. Hours later, China also released a joint statement confirming the 90-day postponement of retaliatory tariffs on the US, as both sides expressed relief. Following this, the Chinese Ministry of Commerce announced the suspension of additional tariffs on US goods, providing some respite to traders. The 90-day extension comes amidst ongoing negotiations between the two economic giants, with the hope of reaching a long-term agreement.